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Anonymous

27 Nov 2020

∙

What is the new Singlife Grow?

My friend just threw in $1k into it and claims that is really good for lazy newbies. Will robo or even RSP on ETF be a better option? He has absolute no prior financial knowledge and chose the "Medium risk portfolio" of 50% Stocks 50% Fixed income.

I read that the management fees are 0.25%/quarterly, are robo a cheaper alternative for lazy people like him? I don't want him to get lazy on financial literacy by relying on "those are financial experts, I'm not" mindset.

-Ogustine

Singlife Account

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1M45

27 Nov 2020

Is an ILP. Investment link plan.
Insurance + investment.
Commonly invest in Unit trust.
insurance premium deduct from your investment
As u grow older, premium normally increase.
if ur investment do not grow faster than the insurance deduction, u lose $$$ even if the market is bullish.

OPINON:
Is not a good investment. But if u treat as a insurance, after some year u can still cash out some value, definitely lesser. But also note the coverage may not be as much as term insurance with the same amount u put in.

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